After a challenging period, including temporarily ceasing operations, South African Airways has reported its first net profit since 2012.
South African Airways has reported its first net profit since 2012, marking a significant milestone in the airline’s road to recovery.for more than a decade. This was caused by, among other things, the global pandemic, corruption, and mismanagement. Markedly, in 2020, SAA was forced to temporarily cease operations. However, a comprehensive restructuring effort has enabled the South African carrier to rebuild its foundation.
“We have now entered a period of consolidation of the current route network and fleet strategy and are looking to the next phase of quantum growth as SAA renews its fleet to elevate its customer offering, open more intercontinental routes, and pursue its environmental sustainability goals.
Although Transport Minister Barbara Creecy and the SAA interim board have confirmed the airline will no longer require government funding, it needs a private partner to ensure long-term success.
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